Noob To Business

giftallround

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Oct 8, 2018
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Hi all,

This will be a fairly lengthy read so be prepared, I’m typing as I’m thinking.

Basically I’m new to the entire business scene; and I’ve tried multiple different outlets/ideas to bring a business to success.

MY BACKGROUND

I’m currently working as a SMM marketing forex on Instagram under the handle @bradlwilde - I’m also trading using their signals and bring in roughly £1500 capital monthly. The commission is only £100 per sign up and it seems like more work for minimum profit.
Now I wouldn’t really class this as a business because it doesn’t FEEL like it... but it works seemlessly and takes minimal effort daily.
I also currently work FT as an Assistant Manager selling furniture, however I’m currently on furlough.

MY BUSINESS ATTEMPTS

Like many of us, I’ve tried many different things to build a successful business. To name a few, Shopify, Amazon FBA, Trading Cryptocurrency (worked for a while tbh) I’ve searched countless resources online and I can’t find something that truly sticks and resonates with me.

I feel like a lot of us starting out go through the same motions, and it’s not very talked about... all we EVER hear about is success. Not the multiple failed attempts of what before it finally STICKS!

MY QUESTION

To any business owner out there, what did you finally do differently to find your niche, and build a successful business?

I don’t want to be working FT for the rest of my life, and I hate doing continuous research and getting no where..

I feel my mindset is now in the right place, but I need to spend time working on an outlet that will guarantee me proven results if I just continue down that journey...

I’m not asking for handouts, just a lost 22 year old lad looking for some answers. Please help :)
 
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Mr D

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Feb 12, 2017
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Looked around, identified a niche, investigated it, found suppliers, started selling. Business isn't successful in my eyes yet - but growing beyond expectations.

If you hate doing continuous research then is business for you? The world doesn't stand still, demand changes and what you start with may not be what you end up with 10 years later. Without lots of research done all along will you keep up? Will you buy stuff at the end of a craze or the beginning?


Guarantee proven results? Not heard of anything like that in business.
Proven results however? Look around. Are any of the shops you ever go in making money? Proven results. Any of the websites you buy from making money? Again proven results.

Figure out what you want to do. What are your interests? What do you enjoy?

Start with those - for example someone who enjoys fishing, look around for what fishing shops sell, look around for what fishing people buy. Enjoying what you do or at least having some knowledge of it is a start.
 
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JEREMY HAWKE

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    What's a noob

    Its not what I think it is,is it ?

    I think you will find on here quite a lot of talk about people falling flat on their nose
    There are many reasons why more businesses fail than prosper often a person is at the helm with no experience and limited funds but the list is endless.
     
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    Mr D

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    How many people on here have really sat down in the beginning and gone "I know let's make a business today"?

    I'd always assume, like it was for us, it was an organic process that likely starts naturally from work experience or situation.

    Have sat down and decided to make a business every time have set one up. Conscious decision - then sorted out the details afterwards.
     
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    From what you say @giftallround you appear to have 'JOB' and 'BUSINESS' confused... the things you are listing above are pretty much what I would consider jobs where someone else is deriving the benefit of your work in return for a commission payment.

    The reason you probably aren't finding what you think you are looking for is that you are exchanging one 'thing' for another 'thing' with a similar principle that aren't actually businesses at all.

    Think broader... think bigger!
     
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    I am the opposite of you - I am a grotty old fart with loads of experience, so let's do the basics and I'll start with this statement -
    Like many of us, I’ve tried many different things to build a successful business. To name a few, Shopify, Amazon FBA, Trading Cryptocurrency (worked for a while tbh) I’ve searched countless resources online and I can’t find something that truly sticks and resonates with me.
    All that casting around trying a bit of this and a bit of that tells me that you are trying to reach for the brass ring. (And anyone who thinks that cryptocurrencies can be a business is barking mad.)

    You are trying the scatter-gun approach and guess what, it don't work! It never has and it never will! You can go through life scattering you efforts to the wind like that and spend the next 40 years failing. I've seen it happen several times! If a horse is going to win a race it must start at the beginning of the race, stick to one track and finish the race. Veering from track to track is a pointless and silly thing for any horse to do.

    You are also failing to invest in one thing and it is the most important investment you can make and it is one that you must invest in BEFORE you do anything else. You have to invest in YOURSELF.

    You can either go in for a formal approach and get your butt into college and knuckle down to three years of Business Studies at a reasonable university or you can attend on on-line college (which range from totally free to horribly expensive rip-offs) or (my suggestion) you can format your own private study plan and spend time every day in a disciplined manner, studying the art and science of creating and running a business.

    You can start with the basic and dry 'Starting a Business for Dummies' by Colin Barrow. At the same time, get an A-Level book on economics and study that so that you understand how an economy works.

    Wikipedia is also a good resource for basic knowledge in such things as contract law and how to read a profit and loss account and general subjects like that.

    So off you go and good luck!
     
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    To any business owner out there, what did you finally do differently to find your niche, and build a successful business?:)

    Unfortunately there is no one size fits all answer to this question. Every business sector is different and even within the same sector, what works for one company won't work for another. You will need to do continuous research and you will need to dynamically change as the markets around you change.

    I wish it was a simple as 'do 1,2,3' and then you'll be successful, but if it was that easy we'd all be Alan Sugars (but hopefully in my case, without the beard)... Good luck with the venture.
     
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    Mr D

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    Unfortunately there is no one size fits all answer to this question. Every business sector is different and even within the same sector, what works for one company won't work for another. You will need to do continuous research and you will need to dynamically change as the markets around you change.

    I wish it was a simple as 'do 1,2,3' and then you'll be successful, but if it was that easy we'd all be Alan Sugars (but hopefully in my case, without the beard)... Good luck with the venture.

    You don't think you'd look good with a beard?

    Perhaps try it with a print on a mask - a small goatee and mustache?
     
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    BusterBloodvessel

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    I think Bluejen has a point to be fair that's maybe been misinterpreted. You will struggle to just think "I'll start a business" and get on with a ready made template for something that's guaranteed to work. Yes people might sit down and plan starting a business but that comes from something.

    I've had a number of small businesses / hustles. I started selling & managing holiday rentals when I was 15 because my grandparents lived in Spain and were sick to the back teeth of people "just asking for a favour" to book their accommodation for them, or holiday home owners sending their own guests round to their house for help with booking a taxi or translations etc! So I realised there was a demand for it, spoke to the owners, and agreed to take on the clients.

    Another small amount of import and export I do came from a previous job where I knew some customers didn't like the format of the packaging and delivery of one product (came from China). For them it caused a big headache to use in production, for our business it would be an equally big headache to change the format just for them. Some time after I left, I contacted that customer and offered to source the item for them in the way they required. This developed into me sourcing various products for them completely unrelated to the one I started with!

    I started a food business because it was something I was desperately looking for and couldn't believe nobody offered it - so I researched, found others also wanted it, so decided to do it myself. As I was then looking to expand that an opportunity came up with one of our suppliers who was looking at a new venture and we went into that together.

    I am not saying any of the above just to say "look what I've done"! (All of my businesses have been very small and generally a side income). But what I am trying to say is - they happened from something. I didn't wake up one day and think "I want to start a business - how about holiday rentals?"


    Look around you in your personal life and your work life. What is missing? What could be done better? What have you tried to buy or look for in the past and couldn't find?

    What do customers complain about at your furniture shop? What product or service do they ask for that you don't offer? Could you open a similar business or an 'add on service' that would resolve those complaints or deliver what they ask for?

    Finally, I hate to break it to you but...

    I need to spend time working on an outlet that will guarantee me proven results if I just continue down that journey...

    I'm afraid that doesn't exist.
     
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    busowner987

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    Aug 27, 2019
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    Crack on and make some more mistakes. I used to enjoy sitting on my bed when I was younger and playing with a pen/pad and a calculator.

    I used to work out how much money I could make in a day if I simply did 10x £100 x 365 etc

    A few different businesses later and I now make more than I jotted down on those pads.

    You need to grow a little, make a few mistakes and not be afraid to spend.

    I just purchased a new domain for 20k. My mates would call me mad. I know otherwise!
     
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    MBE2017

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    I would second The Byres advice, plus the important nugget of looking around for a need, be it a service or product.

    Business is hard, more so atm than ever before. It helps if you like and enjoy what you are going to do, since there will almost certainly be many days with little reward. Many years ago I knew a guy who built up a chain of corner shops. He had a simple method for finding a good location, he ask people where he could buy a packet of fags, matches from. If he had to walk more than 3/4 roads, he knew there was a potential site. Point is, he worked his plan.

    Times have changed, it doesn’t matter if online or local, the basic of doing something no one else is doing, or doing the same thing but much better, or cheaper etc applies.

    In your shoes I would be looking local first, to get anywhere on the web now takes seriously large finances, with worldwide competition. At least locally you are only really up against people within 20 miles of yourself.

    As to what to go into, that bit is down to yourself. I have found something I am looking at starting after this lockdown, but that’s my idea, for myself.
     
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    SillyBill

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    Hi all,
    I don’t want to be working FT for the rest of my life, and I hate doing continuous research and getting no where..

    That is pretty much my main job as the owner of an SME. "After" work I probably spend 2+ hours an evening "educating" myself on the industry, the products, developments, keeping tabs with competition, legal changes, reading/downloading company accounts etc. That effort, in my game at least, is required to just tread water, let alone grow the business. For the most part business is tough, you have to work incredibly hard to maintain what you have every day.

    And working FT has its benefits. I've been pulled up twice already for trying to schedule things with people on Friday. A bank holiday doesn't register in my brain because Mon-Sat is work for me every week of the year. The rewards can be substantial but even I sometimes question the sacrifice...and my family certainly does.
     
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    Scottishgifts4u

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    Jul 6, 2017
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    I still don’t know what the OP wants o_O

    When he talks about a ‘business’ what exactly does he want to do?

    Trading cryptocurrency is a business but so is selling sex toys on the internet.

    The principles may be the roughly the same but without a hint of what you want to do you’ll only get the very broadest of advice.

    Oh and as a business owner you can relax, you won’t be working FT.
    You’ll be working FT + x. :(
     
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    Bethen

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    It's okay to feel lost and fail, because it means you are on your way to find your own calling. I've personally tried a few business ideas as well, affiliate marketing, dropshipping, I've lost a lot of money due to a failure, I had successful businesses that I wasn't interested after a while, and then finally found one that I was really enjoying. I was at some point a wedding host, I am great at public speaking and I used to organize events and celebrations. I realized that what I am good at could be my work as well. I've created a simple website through a website builder, I let all my friends know that I am open for business and prepared a small portfolio of the things I've done. That's how I started my own business.

    Affiliate marketing wasn't my thing, but it's a huge one these days, have you tried it? It didn't catch my interest, although it could catch yours.
     
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    A

    Alexander Denholm

    You need to realise what skills you have and how you can offer them to the marketplace. It's no good assuming you know what they want is you haven't actually identified what they're looking for. This is why research is so important. Ask people in your niche what they're biggest problems are, where they usually get their information from, etc.
     
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    The question you have asked is so hard to answer. What did you do to find your niche?

    Let me share a summary of what I've done.

    EDIT: Ok I wrote this while listening to music and doing other stuff and just kept typing and lost track. So it's a bit of a novel. Sorry, it's so long. But it's worth the read :)

    I'm 33 now and I've been at it since I was in high school. I've always been business-minded and I've always known something was wrong with 'the system' if you will of going to school, getting a degree and working till you die or hopefully retire and not being too old and weak to enjoy it.

    1. In high school and shortly after - MLMs/Network Marketing and the odd jobs like Burger King. High school ended in 2004 for me.

    2. High school ends. Working odd jobs and repeat year 12 of school as I never did the subjects to enter university nor did exams. So I found a mature age school allowing you to repeat. Then while I do that I find a university preparation course so I quit the year 12 repeat as I just have to pass the course to get into a business degree.

    While doing this I'm learning to sell digitals goods on eBay. I didn't know it at the time but I was email marketing to cross-sell and upsell. And sell direct to people on my own website to make more money. For the first time in my life I see $5,000 in my bank at one time. And some days I'm doing $500/day. I say $ and not £ as I grew up in Australia.

    3. Read Rich Dad Poor Dad again and a few other books. I dropped out of the university preparation course to learn how to sell after he said that's a really important skill. I got a sales job as one of those annoying people who stop you in the street and the shopping centre. It got me out of my shell that I had big time. It was a really good move. Learnt a lot and it was a stepping stone to so much in my future.

    4. Move across the country from Perth to Sydney in Australia. I work in call centres for 18 months.

    5. Move back to Perth and get another call centre job while working on #6 + #7. Quit after a year and backpack Europe for four months. This is 2008. Then go back to that job as they needed staff. I also learn to skydive for fun during this time and clock up 200 jumps. Being put in that stressful environment and forced to perform has definitely crossed over into other aspects of life. Giving me the ability to keep my cool in stressful situations and always seeing the light at the end of the tunnel.

    6. The job has a slight sales aspect. Because I'm good with the sales part I get a chance to do a sales campaign and sell to small businesses. Electricity contracts the SME. The normal day to day of that call centre job was just for residential gas customers calling in about their accounts and bills.

    7. Next, I got involved in direct sales and online marketing. It was basically MLM/Network Marketing but online building teams etc. This lead to learning marketing and sales online.

    8. Quit the call centre job as I'm naive, young, dumb and travel on loaned money (hence why it was dumb). But at the same time, it was awesome! Get better at making my online business work. Merged with a few others doing the same thing to build a bigger group and we did some awesome sales numbers. Travel more. Get on stage winning awards. We sell over a million in product. There are days of $10K profit, $20K, $50K and so on. All looks perfect and the future is solid as can be.

    Get booted from that group of people due to politics. Then find out it all crumbled apart as I was holding one key element together they tried to outsource for $5/h to someone without a vested interest. A good life lesson there on politics and trying to replace important people while low paid workers.

    I had a flight booked to Europe that I wasn't going to take. I was in Canada at the time of getting the boot from this group. Staying with one of the people in the group. Can you say awkward haha.

    So I book my flights to line up. I get back to Australia and stay for a day and go on a three-week bender around Europe to drown my sorrows at the bottom of a bottle. And go home with $100 in the bank and know what it's like to not have money being abroad. Not fun. Crash in a spare room at my sisters to get back on my feet.

    9. Work a call centre job in health insurance for a non-profit so it's easy work but a little sales involved also. Three months in this job.

    While doing this I look at getting products imported from China to sell on eBay but never pull the trigger.

    10. As I was walking to work one day I bump into the lady who gave me the shot to sell the SMEs in my old job. She gets me an interview and hires me to be a team leader.

    Over the next 2.5 years I learn to be a team leader with zero experience. Build a department. Did more sales. Hired people. Fired people. Dealt with some nasty workplace politics. Dealt with idiots I wanted to strangle. And at the end of the day learned that I don't want to be a team leader or general manager ever again. A good experience but something I had to go through to know that I didn't want it. I would have been 1000% happier if I just had to sell and go out there and kill it. Not be responsible for a team of people. I might gone into a full-on career in sales if this one change took place.

    While doing this I was back at it with the online home business/mlm style stuff. Made some cash on the side. Then got into SEO and started learning how to rank sites.

    11. It's 2013 now. I quit my job for the last time. I have $5000 or so in the bank and $300/m coming in online from the home business/mlm stuff and SEO. I get rid of everything I own. Move to India of all places as my brother in law is India and I can live there at almost no cost.

    I start an SEO service and hustle hard. I make a few grand in the first month. More in the second. In the third month, it's almost at $10K/m.

    I network with people. Really jive with someone who is a lot older and wanted to talk to me as he saw I was hustling hard and he wanted to see if he could partner up. Long story short I get on a plane to Miami and I'm in USA for three months. India only lasted six weeks.

    12. I spend three months living in Miami Beach in his apartment that looks down on the water with Lambos and Ferraris parked out the front. An epic place to live. I keep building my SEO business while working on some projects with him so we can do what I'm doing but scale it and sell it in bulk. Another project was to set up websites for people needing lawyers and then take a percentage on the back end of the lawyer's fees. This is a very high-level person and has done some crazy stuff in business in the past.

    In the end, it really doesn't work out. But, I got to live in Miami Beach and spend time with a guy who has made his millions and consulted with people who have helped companies bring in hundreds of millions more in revenue. Amazing experience. And I've kept in touch and gone to him when I've needed advice. He's always been there to help guide me.

    13. A bit of travelling in USA and then off to Canada. I go a rental on a ski hill, Big White, with a friend from that original group who wasn't part of the bs that got me booted. 5 month or so of snowboarding while I work on building my SEO and start-up eBay dropshipping. Also, start a private label health product that sells on Amazon.

    14. Ski season is done. SEO is still going well. Keep travelling. Europe again. Some of Asia. End up in USA for an Amazon seller conference. Off to NYC after and stay with the partner I have in that business. We launch product #2. After the time in USA I go to Europe to meet family and chill out in Budapest after. Back to Canada for the next ski season.

    15. That partner screws me. Shitty times but I learned Amazon and I have a friend who says he can fund a new partnership. A long story short that business does well and we do over $1MM in sales. Importing from China and selling on Amazon as FBA.

    At the end of the day, the two of us didn't work well as partners at all. So that business wraps up.

    I have money so I just keep travelling and have stock at Amazon and eventually it all gets sold off and dries up.

    16. I travel some more. Go back to Australia for a while. Start looking into options to move my financial side away from Australia as I'm never there. I meet with a high-level guy who deals with this. I get it setup up and he gets me set up with a company in Hong Kong. I travel again. End up in Bulgaria for a ski season. Get my tax residency there as I've never in Australia to make everything concrete. As you can't just have a company somewhere and that's it. You need to have a real-life somewhere. So Bulgaria is home now in a ski town called Bankso. A perfect fit as I love snowboarding. Build my SEO business more.

    17. Go to Thailand for a fitness camp. Meet someone online from a Facebook post that's kind of like the guy in Miami. Hit it off and work on some projects for a few months. I have an investment in a project now and took a back seat on and that investment should be very fruitful in the years to come. This is 2017 now.

    18. Hang around Thailand for a few years living a modest life. Nothing too crazy with business and it's very chilled. Go back to Bulgaria now and again so I meet the requirements for Australia to stay a non-tax resident in Australia,

    19. It's mid-2019 now. I'm bored. I want more than the chillaxed Thailand life. So I start searching. I come across something I know I can scale. Lead generation for businesses through an affiliate network. At the end of the day, it's just the contact info of people who want a home service done. So I get to work doing it with multiple Facebook accounts contacting people who post in groups with something like 'I need a plumber, who can you recommend'. I get paid when the lead gets entered into the companies system who takes the lead and sells it to a contractor.
     
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    Part two as I couldn't add more than 10,000 characters in a post apparently. LOL!

    I hire a few VAs to help in The Philippines. I build out a whole system around it with a massive wiki on how to deal with any and every situation. It's sitting at a few grand a month in profit now. I'm happy as I work about two hours a week on it and the VAs manage it all. It's time to scale and bring on more staff. In a few months, it should hit $10k/m and in 2020 I should cross $20K/m.


    Then some ambulance chaser that was a lead decided to sue the affiliate network and they shut that method down. Back to the drawing board.


    20. 2020 hits. I realise I'm 33 and while I've done more than most people ever will. And I've got the freedom to do what I want. I've not really got anything. It's a wake-up call. It's time to build a real life. I realise it's time to build something big, tangible and real, something that I will make my mark with. No more chasing little ideas to just make an income.


    I search for a while and I realise the main thing I've been missing is a local component. Everything I've done is 100% online. I realise that I've felt this detachment for years as everything seems to 'virtual'. I think about starting a real local business and becoming the best of the best.


    All the marketing methods I know help local businesses scale. I know how to deal with getting business coming in again and again. I know how to make the most of the internet to do a job that's 50x better than the local company who is living in 1999 with most of their online presence and operations.


    But, the idea of a $100K/year commercial property and owning several vans for whatever local service I would provide isn't appealing at all. It's kind of scary actually.


    I speak to my brother in law on the phone and he hears out my idea and then tells me I should focus on something that I'm good at. Something online. So it gets me thinking that I should match the two.


    Natural progression takes place and I happen to come across a guy who had a reddit post about how he built a local company focusing on marketing to a few million a year. And others followed his post and did the same. They have software to automate the bookings and a lot of aspects of the business.


    It catches my eye and this is what I've been researching while corona is taking place as I can't start it yet. That's why I'm on these forums in the UK as I'm planning to start this up in a UK city. I've been looking at things here learning about specifics that are local to the UK.


    Why in the UK? I've spent a few months in the city I'm planing this for so I kind of know the area and I have friends that can help locally. I'm not going to mention the city though. I don't need competition seeing my plan haha. In time I know I'll make friends in the industry but right now it's quiet. Plus I can get a UK company setup online and have banking in a week without having to ever set foot in the UK.


    I looked into setting up in Perth, Australia. My home town. But it would be a big mess with taxes living abroad. I would have to come back to Australia as a tax resident and it would be a disaster. I also looked at USA. The setup would be good and so many people are successfully doing this there but the time difference would really suck at the start. I'll expand there eventually but not start there.


    So this is what I'm focused on now. Mapping this out so things are in place to take off with a bang once the new normal starts and COVID lockdowns are lifted and so on.


    And you know what. I don't live and breathe SEO. There are certain elements of it that I can't stand in fact. But, I focused on what I'm good at with it and it's paid the bills since 2013. That skill set along with everything else I've learned over time is going to play a part in making this a massively successful company. I've built a million-plus in sales twice already. Time for 'third time lucky' as they say and to make it stick!


    I'm going to take over at least the top five positions in Google organics for the city I'm focused on with the main keywords people search. All the map positions. All the suburbs will have their own sites and maps targeted. I'll be buying leads. Using sites that sell leads and private deals. I'll be having people I know run Facebook ads who kill and get local businesses huge amounts of appointments. I'll be running Google ads. Gumtree ads and so on. My backend will be systemized for repeat business. I'll build it so it's just like I've done before. Where staff can run it. I'll be a real CEO.


    The new thing for me will be building the right systems and processes to ensure we get good contractors that stick around.


    Once I'm happy with the stability we will move to the next city. And then the next. We will keep systemising and adapting and doing everything that most local businesses won't. The 50,000-foot vision is to take this to all the main cities in the UK, Australia, Canada, New Zealand and USA. That's the mega visionary reach for the starts goal. But, the first focus is acing what needs to be done for city #1.


    All of this is possible from the skills I've learned during the last 7 or so. Everything I've done in the past has lead to this. If I didn't go through everything I did. What I'm about to undertake wouldn't be possible. Especially not starting this remote from outside of the UK living in Asia right now.


    So to wrap this up. Does it look like I ever found my niche? No, it doesn't. Maybe this new local business that focuses on heavy marketing and systems while using contractors is my new niche.

    It's not about the local service that I pick. It could be any local based home service that people need. The excitement in this for me is the marketing side, the systems side and the massive business I can build without owning anything.

    It's kind of like Uber or Airbnb for a local service. Control everything but own nothing.


    But again maybe this niche isn't my true calling. Maybe I run it for five years. Expand into a few cities. Maybe even 10. Build a multiple seven-figure businesses and sell out for a good payday. Then move to the next thing. My plan today writing this is that I'll be at it for a long time and this is a 20 to 40 year journey. But, who knows what the future holds.


    What I'm really getting at if you haven't read between the lines is that it's all one massive journey. So enjoy the damn ride! Don't get too caught up in the details. Find something and run with it. Learn from it and keep going. In time everything will come together and you'll do something that you're supposed to be doing. All the little details will add up and make that happen.


    I read a long time ago that the keyboard is the keyboard we have today because Steve Jobs took a calligraphy class in university. Something back then that I bet he didn't give a second thought to :)


    I know this has been long. And I hope you get some value out of it @giftallround. Even if you don't see this post I know others will and it's been kind of cool for me to write this up and reminisce all the details of the journey I've been through over the last 15 or so years since high school was wrapping up.


    Good luck!


    Cheers!
    Dom
     
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